ASICs are rapidly approaching the marginal cost of production and ASIC accessibility will not be restricted to VIP’s. People with low cost power and efficient use cases (EG waste heat recovery) will dominate . Mining decentralization is bound to improve.
This would be applicable in the long term. Currently with such low adoption %, speculation increases the amount of risk large scale operations would be willing to take on in the short-mid term.
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The amount of risk isn't the issue. The time to build physical plant is.
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